Mylan, Pfizer, Teva reach deal over generic version of EpiPen

Teva can launch in 2015

NEW YORK — Two companies have settled with Teva over the latter's efforts to launch a generic version of an emergency treatment for allergic reactions.

Under the agreement, involving Mylan and Pfizer's Meridian Medical Technologies subsidiary, Teva will be allowed to launch a generic version of EpiPen (epinephrine) auto-injector in June 2015, assuming it wins approval from the Food and Drug Administration. Mylan Specialty markets the EpiPen, which Meridian manufactures.

The companies said the terms of the deal were confidential, and the deal remained subject to review by the Department of Justice. Currently, Teva has not won tentative or final approval from the FDA for its version of the product.

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